MBINM
Merchants Bancorp
NASDAQ · Financial Services · Banks - Regional · US
$25.03
−0.02%Income statement
| Metric | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | |||||
| Total Revenue | 1.4B | 1.4B | 1.4B | 1.2B | 602.1M |
| Cost of Revenue | 690.9M | 801.5M | 804.4M | 670.0M | 179.6M |
| Gross Profit | 666.9M | 563.7M | 642.7M | 519.1M | 422.5M |
| Operating Expenses | |||||
| R&D Expense | — | — | — | — | — |
| SG&A Expense | 174.1M | 177.2M | 156.9M | 121.8M | 92.5M |
| General & Admin Expense | 174.1M | 177.2M | 156.9M | 121.8M | 92.5M |
| Selling & Marketing Expense | — | — | — | — | — |
| Other Expenses | 147.1M | 122.7M | 63.2M | 49.4M | 38.8M |
| Total Operating Expenses | 321.2M | 299.9M | 220.0M | 171.2M | 131.3M |
| Cost and Expenses | 1.0B | 1.1B | 1.0B | 841.1M | 310.9M |
| Operating Income (EBIT) | 345.7M | 263.8M | 422.6M | 347.9M | 291.1M |
| Non-Operating | |||||
| Interest Income | 1.2B | 1.2B | 1.3B | 1.1B | 480.8M |
| Interest Expense | 635.8M | 683.8M | 780.1M | 629.7M | 162.3M |
| Net Interest Income | 547.4M | 517.1M | 522.6M | 448.1M | 318.6M |
| Other Non-Op Income/Expense | 45.7M | — | — | — | — |
| Non-Operating Income (excl Interest) | (212.7M) | — | — | — | — |
| EBT (Pre-Tax Income) | 391.4M | 263.8M | 422.6M | 347.9M | 291.1M |
| Income Tax Expense | 72.3M | 45.0M | 102.3M | 68.7M | 71.4M |
| Bottom Line | |||||
| Net Income | 319.1M | 218.8M | 320.4M | 279.2M | 219.7M |
| Earnings from Cont. Ops | 319.1M | 218.8M | 320.4M | 279.2M | 219.7M |
| Earnings from Discont. Ops | — | — | — | — | — |
| Bottom Line Net Income | 279.2M | 173.6M | 283.7M | 244.6M | 193.7M |
| Per Share | |||||
| Basic EPS | $6.08 | $3.78 | $6.32 | $5.66 | $4.49 |
| Diluted EPS | $6.07 | $3.78 | $6.30 | $5.64 | $4.47 |
| Revenue Per Share | $29.56 | $29.76 | $32.26 | $27.51 | $13.95 |
| Shares | |||||
| Basic Shares Outstanding | 45.9M | 45.9M | 44.9M | 43.2M | 43.2M |
| Diluted Shares Outstanding | 46.0M | 45.9M | 45.0M | 43.3M | 43.3M |
| Profitability Metrics | |||||
| EBITDA | 560.9M | 267.3M | 425.7M | 350.8M | 293.6M |
| D&A | 2.5M | 3.5M | 3.0M | 2.9M | 2.5M |
| EBIT | 558.4M | 263.8M | 422.6M | 347.9M | 291.1M |
As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Sep 1, 2026